O.K....Ohhhhhhh-kay...Time to dismantle the mega-corporations!

I listened to the BBC this morning. There were a couple of stories about bank and financial institution failings and what is being done about them. The general consensus is to bail them out. One expert said objectively he would let them fail, however, since these corporations are global, their failings would affect other regions of the globe. This same sentiment was echoed in another story: these corporations are just too big to let fail as it would have devastating effects on the global economy.

So let me see if I understand this: I can make a few bad decisions regarding my finances and live to regret them as I pay exorbitant interest and penalty fees for years and years until I can manage to make enough money or save enough money to pay them all off, yet some CEO who makes six-, seven-, eight-digit salaries and bonuses can make a few bad decisions, even committing fraud, and then just sit back, still collecting their salaries and bonuses, and let the US taxpayer bail them out? So capitalism is great if the CEOs are doing well and the common man isn't, but when faced with the downside of capitalism and threatened with its punishment for irresponsibility, or "financial ruin," CEOs are protected through good, ol' socialism?

Do I have this right?

just gotta support those friends in high places . . .

I'm sure it would be global chaos initially but damn it is needed.

If you owe a couple of thousand dollars, it's YOUR problem. If you owe a couple of MILLION dollars, it's the BANK'S problem. I wonder how the aphorism goes when it is the bank who owes BILLIONS? Seems that once again, it's simply the PEOPLE'S problem.

STINKS.

The cause of all this is actually the groupthink educational system that most of the exec types are nurtured in from prep school to their MBA training. Only Goldman Sachs saw that this was a really bad idea and got out last year and that was merely because their CEO personally investigated it and made the call all the underlings were just doing what everyone else was doing just like everyone else does.

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Sadly this is what all the CEO/"Smartest Guys In The Room" type have been 'banking' on.


"... But if this near meltdown of capitalism doesn't encourage a lot of people to question the principles they have carried in their heads for the past three decades or so, nothing will.
..."


http://www.washingtonpost.com/wp-dyn/content/article/2008/03/17/AR2008031702154.html?hpid=opinionsbox1


I am in no mood to hear the talking heads of corporate media telling me that the greed, graft and grief of the GOP over the past thirty years are not responsible for what has been done to USA. Use the full extent of the law to go after these corporate slugs and their assets. No letting go.

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Bush lied, people died.
No Amnesty, no pardons no immunity!!
Hold them accountable!

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has taken all the advantages that the economy of scale would give a competitor in a free market (a pure hypothetical construct that only briefly exists among drug dealers before the guns come out) and so to compete with other megalo-corporations, they must subvert the market.

When the market collapses from the corruption dragging the business cycle deeper the taxpayer takes it up the butt. This is sometimes referred to as privatizing the profit, publicizing the debt. In both cases, the customer is left with no choice.

In no other endeavors save organized religion and party politics can the criminals convince the victims to let them police themselves. Apparently the invisible hand of the market hath a power denied to karma, the invisible hand of justice.

America's international mistakes are larger when bent to the task of enforcing the desires of corporate patrons. And finally, when a large corporation fails, its near monopoly (called market share in corp speak) often means that I is not allowed to die, thus invalidating Adam Smith in one fell swoop.

Now, we have a tower of cards unwinding itself, and we are paying for it again.
To the DLC, who thought we could just play out the Bush clock, and win big, you may yet prove right, but at what cost did we substitute expediency for courage?

corporations why is it american taxpayers have to bail them out, they certainly have no allegiance to the american people.

If you owe a man $10B, you own him. Sound familiar?